SCHEDULES
SCHEDULE 2Revaluation of accrued benefits etc
Part 3Consequential amendments
8
1
Section 51ZA of the Pensions Act 1995 (c. 26) (meaning of “the appropriate percentage”) is amended as follows.
2
In subsection (1)—
a
in paragraph (a), for “revaluation percentage” substitute “
higher revaluation percentage
”
;
b
for paragraph (b) substitute—
b
in the case of a category Y pension, means the lower revaluation percentage for that period.
3
In subsection (2), for “ “the revaluation percentage”” substitute “ “
“the higher revaluation percentage”, “the lower revaluation percentage”
”
.